SEOUL, Dec. 4 (Yonhap) — Hyundai Rotem Co., the train manufacturing unit of Hyundai Motor Group, said Monday it won a 929.3 billion-won (US$856 million) order to supply diesel-powered trains in Iran.
The company said in a statement that it signed the mega deal with the Iranian government Saturday (local time) to build 450 trains for 78 months.
Of the total orders, Hyundai Rotem plans to build 150 diesel-powered trains at its domestic plant and to partner with the Iranian Rail Industries Development Co. (IRICO) to manufacture the remaining 300 in an Iranian production facility, it said.